Trend Overview:
EURAUD is currently exhibiting a bullish trend, with recent price action reflecting a retest of former resistance (now acting as support)—a classic bullish continuation pattern.
Key Support Level:
1.7660 – A pivotal zone representing the previous consolidation area. This level now serves as key support and a decision point for the next directional move.
Bullish Scenario (Primary Bias):
A corrective pullback to the 1.7660 area followed by a bullish bounce would signal trend continuation.
Upside targets are:
1.7800 – Near-term resistance.
1.7880 – Mid-term target aligned with prior highs.
1.7970 – Long-term resistance zone.
Bearish Scenario (Invalidation):
A confirmed break and daily close below 1.7660 would invalidate the current bullish bias.
This would open the door for further downside toward:
1.7610 – Initial retracement support.
1.7550 – Deeper pullback level within a broader range.
Conclusion:
EURAUD remains bullishly biased, supported by both structure and momentum. The 1.7660 level is crucial—holding this level would maintain the upside potential toward 1.7970. However, a decisive break below it would signal weakness and increase the likelihood of a deeper retracement.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
EURAUD is currently exhibiting a bullish trend, with recent price action reflecting a retest of former resistance (now acting as support)—a classic bullish continuation pattern.
Key Support Level:
1.7660 – A pivotal zone representing the previous consolidation area. This level now serves as key support and a decision point for the next directional move.
Bullish Scenario (Primary Bias):
A corrective pullback to the 1.7660 area followed by a bullish bounce would signal trend continuation.
Upside targets are:
1.7800 – Near-term resistance.
1.7880 – Mid-term target aligned with prior highs.
1.7970 – Long-term resistance zone.
Bearish Scenario (Invalidation):
A confirmed break and daily close below 1.7660 would invalidate the current bullish bias.
This would open the door for further downside toward:
1.7610 – Initial retracement support.
1.7550 – Deeper pullback level within a broader range.
Conclusion:
EURAUD remains bullishly biased, supported by both structure and momentum. The 1.7660 level is crucial—holding this level would maintain the upside potential toward 1.7970. However, a decisive break below it would signal weakness and increase the likelihood of a deeper retracement.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.